Bitcoin – Still Strong
Let’s see how BTC is behaving.
This is a 4H chart. (Mid Term Term)
Fib Retracement levels show three support areas and three resistance areas on the way up.
Once support is solid, one is dynamic, and one is local.
Same for the resistance areas, except that we don’t have a dynamic resistance for now on this chart.
Support Area: $35000
Resistance Area: $45000
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing SELL volumes for BTC .
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It’ll help you have better readings:
Current Market Price: $39000
Let me know your ideas.
Good luck.



